According to the CITIC Securities Research Report, the national milk tea supply began to decline in November, and coffee stores continued to grow. Some investors are concerned about the industry's performance under a high base next year. We believe that leading brands with product innovation and offline drainage capabilities are expected to cross the cycle, while actively focusing on brands that may grow in overseas markets.

According to the CITIC Securities Research Report, the national milk tea supply began to decline in November, and coffee stores continued to grow. Some investors are concerned about the industry's performance under a high base next year. We believe that leading brands with product innovation and offline drainage capabilities are expected to cross the cycle, while actively focusing on brands that may grow in overseas markets.